Buying a car is an investment, not just in the item itself, but in your future. A reliable car is essential in many parts of the country for commuting to work, to access goods and services, and to transport family to all their activities. It’s also fun to just take a drive for the afternoon or take a road trip.

When looking for a car, there are many things to consider. Cost, condition, safety, maintenance, efficiency, and insurance all come to mind. One must also decide if they’ll purchase new, buy a pre-owned or used car, or if they’ll lease a vehicle. Each choice comes with a different set of financial considerations.

For many, a new car or a lease is out of the question because their credit score is too low to obtain the financing they need. Buying a used car may be within reach, but is it a good idea?

Here are the top three reasons to consider a used car:

Depreciation. New cars can lose as much as 30% of their value the moment they are driven off the lot. A used car has already depreciated, so you’ll pay less for it. The newer it is, the more you’ll pay for it, but it won’t compare to the sticker price of a brand-new car.

Warranties are often available. If the car is only a year or two old, the original warranty may be transferrable from the original owner and you’ll still have valid coverage for certain issues. If it’s not still available, you may be able to purchase an extended service contract. Review the terms carefully to be sure this will still save you money in the long run.

Insurance. It typically costs significantly less to insure a used car. This is due in large part to the fact that the value of the car is lower than a new car. Should something happen to it and the vehicle is damaged, the insurer will likely pay out far less on the claim, making insuring the car a smaller risk. This isn’t always the case, so talk to your insurance agent before you buy to get an idea of cost.

Buying a used car with an auto loan can also help repair your credit. As you make your monthly payments on time, your credit history will reflect your financial responsibility and your overall score will increase over time.

If you’re ready for a new car but your credit is keeping you from getting approved, CreditYes can help with our bad credit auto loan program! We can match you with a dealership in your area that will be with you ever step of the way. Our service is fast and free. Fill out our secure online application and get behind the wheel of your next car today!

CreditYES

The best decision I ever made. Walked out with two car in stead of one. Eric was awesome. Ben dodge was super amazing at explain things. I honestly feel blessed to get my car from here and can't wait to rebuild my credit as well with these new payments on my report!!!! From beginning to end they were aware and very professional

J Mitchellin the last week

Set me up with a Gresham Subaru dealership that had cars that were way over priced, and only showed me one car. Then promised they'd have more cars for me to look at in 2 days and never called me. Credityes claimed they were the only dealership in my area that they could send me to, but it's 30 minutes from my house. All they offered to do for me was keep sending them messages, which they would not return! I used credityes in the past and was sent to Ron Tonkin, about 10 minutes from my house and it was a very positive experience... guess they are hit and miss. Won't be using them ever again! They are taking advantage either way because the interest rate are 25% and higher. This is a rip off!

Karen Jenkins5 months ago

CreditYes set me up with a dealership that made purchasing a vehicle so simple. The best car buying experience ever. Got a car I love despite my current situation and credit issues. Love them!

pedro s. perez2 months ago

Very thankful because even have not a very good credit they work hard to fine the right loan thanks again

John Mabasa2 months ago

I applied online, got a call within 15 minutes and was asked to verify a few things before they finished processing.
They said I was "prequalified" and they matched me up with the dealership that could help me and set up an appointment for me.
As soon as I got the information about the dealership I went ahead and looked at their inventory and saw the car I wanted.
Fully understanding that prequalified does not necessarily mean preapproved, I called the dealership directly, I told them that I lived an hour away and I didn't want to waste my time if I wasn't going to get approved.
Because Credit Yes properly communicated with them, The dealership knew exactly who I was and had pretty much most of what they needed in order to get the ball rolling.
Credit Yes had properly facilitated this transaction between buyer and seller so well that I was able to drive home with my new car within 24 hours!
Please understand, Credit Yes is NOT a bank. Don't expect them to give you a loan check.
Prequalified does NOT mean preapproved.
They match you will dealerships that can help you and in my case, they did it very well.